New Zealand Has NZ$1.286 Billion Trade Deficit In October

New Zealand posted a merchandise trade deficit of NZ$1.286 billion in October, Statistics New Zealand said on Thursday.

That follows the downwardly revised NZ$2.206 billion shortfall in September (originally a NZ$2.171 billion deficit).

Exports climbed 12 percent on year to NZ$5.35 billion last month after showing NZ$4.36 billion in the previous month. Imports jumped an annual 26 percent to NZ$6.64 billion, up from NZ$6.57 billion a month earlier.

For the year to October, exports were up 3.3 percent to NZ$62.1 billion and imports spiked 16 percent to NZ$67.0 billion for a deficit of NZ$4.9 billion.

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